Maclean creditors mobilise ahead of Tuesday meeting
Leaked letter from Westcon alleges liquidator has failed creditorsBy Sim Ahmed - Computerworld, Auckland | Friday, 10 August 2012
Creditors of the failed technology company Maclean Computing are heading for a showdown with liquidator Waterstone Insolvency at a meeting scheduled for Tuesday August 14.
A letter sent by Westcon to Waterstone on July 27, which the other creditors were copied into, has been leaked to Computerworld.
In it the Cisco and VMWare distributor alleges that Waterstone has “failed” its obligations to the creditors, and asks the liquidator to clarify the timeline and decision making process that lead to the sale of the assets of Maclean Computing Ltd (MCL) to Maclean Technology Ltd (MTL)
The letter claims that Westcon will seek damages against the Waterstone liquidator Damien Grant.
A source close to Maclean Technology has told Computerworld that Westcon is being “aggressive” and attempting to rile up the other creditors because it potentially stands to lose almost $200,000.
Computerworld understands that Westcon received that amount as payment towards a $500,000 debt owed by MCL shortly before it went into liquidation.
Liquidators are able to claw back preferential payments made shortly before a company goes into liquidation, a measure which is designed to prevent liquidated companies from unloading assets into shell companies and short changing creditors.
Read the rest of this article on Computerworld.
I just really feel for the staff at this time. No job, no pay. That is a bloody tough position to be put into by people who you trust with your daily bread.
Posted by Jay at 13:51 on August 15, 2012
That was the whole point - we all got jobs in the new company. (except for some who took our database to another company and are trying to steal our customers now - thanks guys)
If Chris hadn't bought it then we would've been jobless. I'm thankful.
The only people commenting here seem to be competitors and ex-staff with beef because they earned more than $18k in half a month and now want our customers.
Posted by Employee at 09:07 on August 16, 2012
18yrs in the game, so you can be confident with who's behind the wheel. Yeah right !
Posted by Anonymous at 11:51 on August 14, 2012
.....Piss Poor Management
Posted by Anonymous at 11:29 on August 14, 2012
Do I get this right.... company trades itself into debt, owing $1000's to creditors, can not pay, is then liquidated, the directors them buy the assets and sets themselves up again in a new similarly named company with a flashy web site http://www.maclean.co.nz/about/ and then trades on as if nothing ever happened, whilst I see no mention that they traded themselves into a hole, whilst at the same time lay calm to the long history of the now bankrupt company. Looks like they learnt from the tricks the building trade has used.
Posted by Something fishy at 00:58 on August 14, 2012
Do not make Weston out to be some sort of Nickle and Dimer. Very professional people there.
Probably the best distributor in the channel...and they are acting accordingly to protect themselves.
Good for them (personally I would be harsher....far, far, harsher).
Posted by Hmm at 10:30 on August 13, 2012
Speaking as an outsider maybe Westcon is being "aggressive" because:
a)*They have a professional and legal duty to their shareholders to ensure they aren't losing money they don't have to.
b)*They have to work very hard to replace $500K from their bottom line.
c)*That the whole thing smells and it appears that something strange and at the very least immoral has gone on.
d)*If it looks like a pig, smells like a pig and walks like a pig then it probably is a pig - and to mix my metaphors' Dave and co have every right to question why it is being turned into a silk purse.
Posted by John Harrop at 03:11 on August 13, 2012
Speaking as an outsider, or as a competitor?
a) Agree, but no need to pretend they are doing it for anyone elses sake
b) Agree, although when you're a multi-national making $80m a year it's hardly a killer stroke. I think the shareholders will survive.
c) Agree it stinks at face value, but to stick with the metaphors you shouldn't judge a book by its cover. There seem to be plenty of extenuating circumstances here.
d) Wouldn't mind betting there were a few 'skeletons' in your closet too.
Posted by Anonymous at 08:49 on August 16, 2012
- Allied Telesis axes NZ staff
- Express Data expands portfolio
- Brocade ANZ country manager talks OpenStack
- GeoOp expands with IT resellers
- NEC's 50 years in NZ
- Inhouse: Contract work, or reseller startup?
- Coffee Break with Luigi Cappel